Yeh, it's in over-brought territory & definitely need a correction. But I saw few reports touting AUD as safe heaven - if its true then it does matter..isn't it.??
It has broken the hourly TL..lets see if sellers are going to follow through..1.0510 is proving to be a strong support, but if we break that, we will be on our way to 1.0400s
I managed to take a short from 1.0560, taken partial profits and now SL at BE. We are back to the same level where we had trouble to break (1.0500), and it is still proving to be strong support.
We have the same view on this pair, I am waiting for a good level to take a short position. If it drops, it has a long way to go. Nice chart
ReplyDeleteYeh, it's in over-brought territory & definitely need a correction. But I saw few reports touting AUD as safe heaven - if its true then it does matter..isn't it.??
DeleteIt has broken the hourly TL..lets see if sellers are going to follow through..1.0510 is proving to be a strong support, but if we break that, we will be on our way to 1.0400s
ReplyDeleteI managed to take a short from 1.0560, taken partial profits and now SL at BE. We are back to the same level where we had trouble to break (1.0500), and it is still proving to be strong support.
ReplyDelete